Oil companies on the rise at the opening of Wall Street – The earnings season is already expected with excitement

Topics discussed in the stock market at the beginning of the week were commodity price rallies and inflation concerns. In the U.S., the stock market’s earnings season starts off properly later this week.

Cost inflation and growth forecasts for declining economies are now expected to appear in companies ’reports and guidelines, as the pandemic period has so far been a time of continued positive surprises for companies.

In Asia, Monday was a bullish day, but in Europe, stock markets were mostly down slightly on Monday. In the United States, stock exchanges cautiously opened the zero shift on both sides.

However, after more than 10 minutes of trading, all three main indices had weighed on a meager 0.1 per cent rise.

The price of U.S. oil had risen nearly three percent on Monday and was close to a seven-year high. The oil companies started the day strongly, supported by the price spike.

In the United States, cost pressures on companies may be exerted in the future by rising commodity prices, labor shortages and possible wage inflation.

The week’s most anticipated macro figure release is set for Wednesday, with inflation figures from the U.S. coming in September.

The U.S. stock market’s heavy series earnings season opens on Wednesday JPMorgan Chase. On Thursday, results will also be obtained from the banking sector Bank of Americalta, Morgan Stanleyltä mixed Citigroupilta. Goldman Sachs will announce its results on Friday.

“Results are expected with excitement. Investors are worried about what companies will say about future results. Potential shortfalls in earnings forecasts are likely due to supply chain disruptions. The fact that the products are not available on the shelves’, Dakota Wealthin seniorisalkunhoitaja Robert Pavlik commented to Reuters.

Source: Arvopaperi by www.arvopaperi.fi.

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